Clarkston Capital Partners LLC Buys Shares of 195,775 Landstar System, Inc. $LSTR

Clarkston Capital Partners LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 195,775 shares of the transportation company’s stock, valued at approximately $27,217,000. Clarkston Capital Partners LLC owned 0.57% of Landstar System as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Landstar System in the 1st quarter valued at about $718,000. Cetera Investment Advisers lifted its stake in shares of Landstar System by 7.7% in the 1st quarter. Cetera Investment Advisers now owns 7,374 shares of the transportation company’s stock worth $1,108,000 after acquiring an additional 527 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Landstar System by 8.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,933 shares of the transportation company’s stock valued at $1,492,000 after acquiring an additional 786 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Landstar System during the first quarter valued at approximately $555,000. Finally, Bayforest Capital Ltd increased its stake in shares of Landstar System by 2,700.0% during the first quarter. Bayforest Capital Ltd now owns 2,632 shares of the transportation company’s stock valued at $395,000 after acquiring an additional 2,538 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Shares of LSTR opened at $130.71 on Friday. The business’s 50-day moving average is $126.76 and its 200-day moving average is $133.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 2.00. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 33.34 and a beta of 0.83. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $190.69.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System’s dividend payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Landstar System in a research note on Tuesday. Evercore ISI dropped their price target on shares of Landstar System from $132.00 to $125.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 30th. Barclays cut their price target on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Stifel Nicolaus lowered their price objective on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Finally, Zacks Research lowered shares of Landstar System from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus target price of $134.60.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.